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Deposit Protection Scheme

Volume 978: debated on Monday 11 February 1980

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asked the Chancellor of the Exchequer when it is proposed to activate the deposit protection scheme as provided by the Banking Act 1979.

It is intended that the deposit protection scheme will be brought into operation once the bulk of applica- tions for deposit-taking authority have been dealt with by the Bank of England. I hope that this will be before the Summer Recess.